GBPUSD present an opportunity to go short as price return to breakout rang,details on the chart..
Price range is very important, it tells us what time volume is introduced to the market, some traders rely on volume pofile indicator,, ATR and other indicators but it is better to determine volume using candlesticks range.
A trader must learn to study!
Evening Traders,
Today’s TA will be based on an oversold bounce play being imminent due to the immense selling over the weekend that has left the CME Futures with a 10% Gap.
Points to consider,
- CME bear flag confirmed
- Local support at .618 Fibonacci
- Huge open Gap (Technical Gap at $7690 open)
- RSI and stochastics overextended
- Volume node climax...